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Letter from the Executive Director Steven K. Snyder
A publication of the Oklahoma Police Pension and Retirement System
Fall/Winter 2012
PROTECTPROTECT
ANDAND
SERVESERVE
The Board of Trustees
Tom Custer
District 1
Craig Akard
District 2
Rick Smith
District 3
Jimmy Keesee
District 4
J. Ryan Perkins
District 5
Randy Scott
District 6
W. B. Smith
District 7
Tony Davenport
Oklahoma Municipal League Appointee
Charles Kerr
Speaker of the House
Appointee
Susan Knight
Senate President Pro
Tempore Appointee
Brandy Manek
Director of State
Finance Designee
Andy McPherson
Governor’s Appointee
Frank Stone
Insurance Commissioner Designee
Inside this Issue:
As the Holidays as well as a New Year approach, many of us look to the future with both trepidation and hope. Trepidation is in the form of a dysfunc-tional federal government that cannot get its house in order and therefore leaves us, the American pub-lic, facing uncertain prospects for 2013. We face a daunting national debt of over $16 trillion however this figure is misleading. According to former U.S. Comptroller General David Walker, the United States Government owes over $70 trillion when you add in the unfunded liability of Social Security, Medicare, and Federal employee retirement obligations and the national debt grows by $10 million per minute! A June 2012 report from the non-partisan Congressional Budget Office found that the federal debt would exceed 70 percent by the end of 2012. In 2008, the federal debt stood at 40 percent of GDP and if current poli-cies remain in effect, the federal debt may exceed 200 percent in 2025, only 12 years away! No wonder there is fear and foreboding of things to come.
Hope comes in the form of the financial soundness of both the State of Oklaho-ma as well as the Oklahoma Police Pension and Retirement System (“OPPRS”). Although the OPPRS funded status decreased from 93% to 90% (which is due to the actuarial smoothing effect that “looks back” on the past 5 years returns), we are still the best funded state retirement system in Oklahoma and one of the best funded retirement systems in the United States. However, public pension sys-tems in other states have not been as lucky as we have been and, as such, we see number of changes taking place in these systems. Since 2008, 45 states have enacted defined benefit (DB) pension plan reforms to achieve affordability, sus-tainability, and human resource goals rather than switching to 401(k) type de-fined contribution (DC) accounts. They did so due to exigent financial difficul-ties.
NIRS 3
Press Release 5
ASAP—ACG 6
NCPERS 7
2013 Meeting Dates 8
Unemployment Data 9
Consultant’s Corner 10

Letter from the Executive Director Steven K. Snyder
A publication of the Oklahoma Police Pension and Retirement System
Fall/Winter 2012
PROTECTPROTECT
ANDAND
SERVESERVE
The Board of Trustees
Tom Custer
District 1
Craig Akard
District 2
Rick Smith
District 3
Jimmy Keesee
District 4
J. Ryan Perkins
District 5
Randy Scott
District 6
W. B. Smith
District 7
Tony Davenport
Oklahoma Municipal League Appointee
Charles Kerr
Speaker of the House
Appointee
Susan Knight
Senate President Pro
Tempore Appointee
Brandy Manek
Director of State
Finance Designee
Andy McPherson
Governor’s Appointee
Frank Stone
Insurance Commissioner Designee
Inside this Issue:
As the Holidays as well as a New Year approach, many of us look to the future with both trepidation and hope. Trepidation is in the form of a dysfunc-tional federal government that cannot get its house in order and therefore leaves us, the American pub-lic, facing uncertain prospects for 2013. We face a daunting national debt of over $16 trillion however this figure is misleading. According to former U.S. Comptroller General David Walker, the United States Government owes over $70 trillion when you add in the unfunded liability of Social Security, Medicare, and Federal employee retirement obligations and the national debt grows by $10 million per minute! A June 2012 report from the non-partisan Congressional Budget Office found that the federal debt would exceed 70 percent by the end of 2012. In 2008, the federal debt stood at 40 percent of GDP and if current poli-cies remain in effect, the federal debt may exceed 200 percent in 2025, only 12 years away! No wonder there is fear and foreboding of things to come.
Hope comes in the form of the financial soundness of both the State of Oklaho-ma as well as the Oklahoma Police Pension and Retirement System (“OPPRS”). Although the OPPRS funded status decreased from 93% to 90% (which is due to the actuarial smoothing effect that “looks back” on the past 5 years returns), we are still the best funded state retirement system in Oklahoma and one of the best funded retirement systems in the United States. However, public pension sys-tems in other states have not been as lucky as we have been and, as such, we see number of changes taking place in these systems. Since 2008, 45 states have enacted defined benefit (DB) pension plan reforms to achieve affordability, sus-tainability, and human resource goals rather than switching to 401(k) type de-fined contribution (DC) accounts. They did so due to exigent financial difficul-ties.
NIRS 3
Press Release 5
ASAP—ACG 6
NCPERS 7
2013 Meeting Dates 8
Unemployment Data 9
Consultant’s Corner 10